Shiba Inu coin was created anonymously in August 2020 under the pseudonym Ryoshi. The meme coin quickly gained speed and value as the investment community was drawn to the coins cute charm along with headlines and Tweets from personalities like Elon Musk and Vitalik Buterin.
Shiba Inu sought to be the Ethereum-based counterpart to Dogecoin, based on the Srypt mining algorithm. Shiba Inu and the SHIB token are part of a swarm of dog-themed cryptocurrencies that include Baby Dogecoin (BabyDoge), Dogecoin (DOGE), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM). . These low-value tokens attracted investors who missed Dogecoins rise from $0.0002 to almost $0.75.
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